Estimating discount functions with consumption choices over the lifecycle
Intertemporal preferences are difficult to measure. We estimate time preferences using a structural buffer stock consumption model and the Method of Simulated Moments. The model includes stochastic labor income, liquidity constraints, child and adult dependents, liquid and illiquid assets, revolving...
| Main Authors: | , , |
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| Format: | Working paper |
| Published: |
University of Oxford
2007
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